China starts stockpiling metals again

A new report indicates that the Chinese State Reserves Bureau has bought about 30,000 tonnes of nickel and may be considering adding to the country’s copper stockpiles as well. The nickel bought by the government’s powerful stockpiling agency represents more than 15% of the inventories held in London Metal Exchange warehouses worldwide and is likely to move markets.
The last time the SRB intervened in base metals markets was during the 2008 financial crisis when it made the most of lower prices picking up vast stocks of import commodities and effectively setting a floor for metal prices………………………………………..Full Article: Source